Retaining Talent During The Recruitment Process

The implications of a negative candidate experience
According to an October survey of 5,700 people by www.Reed.co.uk, one in 25 employees walk out of their job after a matter of weeks or days because their employer has failed to help them settle in. The survey confirms that companies are losing talent because they are failing to put the right induction processes in place that could make all the difference as to whether a candidate stays or leaves. Induction processes are obviously very important in ensuring new talent is retained, but perhaps even more important is the recruitment phase. From the very first moment a candidate interacts with an organisation, he or she forms an opinion, one that is likely to stick. Inefficiencies during the recruitment process, such as mislaid CVs, delayed response times to candidates, rescheduling of interview times and lack of follow-up can all lead to a very negative experience for the candidate.

Most companies would say that their people are their most important asset, but many are failing to provide a streamlined, efficient recruitment process, and are therefore losing out on highly skilled people to their competitors, as well as jeopardising their relationship with internal employees. But that is not all. A bad candidate experience can have serious implications for a companyís brand image. If a person is treated badly during the recruitment process, they wonít keep it to themselves. If word begins to spread, the company will not just have lost a potential employee and damaged its reputation as an employer of choice, it may well have lost a few customers and potential customers as well along the way.

Moving talent retention to the top of the agenda

As the demand for skilled employees continues to grow, the need to ensure an effective recruitment process is going to become increasingly important. With recent statistics which indicate that population growth is slowing down due to lower birth rates and more stringent immigration rules, along with the baby boomer generation going into retirement, businesses need to make sure talent retention is at the top of the agenda. The 2004 Chartered Institute of Personnel Development (CIPD) survey on recruitment and retention revealed that more than 93 per cent of organisations are experiencing problems filling vacancies. This obviously benefits job seekers who may find themselves in the position of being able to choose from a number of job offers. However, for an employer with a sloppy recruitment process, this is a potentially damaging situation and one that is likely to result in the company losing quality people.

Investing in e-recruitment

For many companies a lack of investment in technology means that sourcing people has become a hugely time consuming and administrative intensive task. It is not surprising therefore that these companies cannot respond to candidates quickly and often make mistakes, such as mixing up CVs, and losing talent in the process. As the competition for talent gets tougher, these organisations are going to face harsh consequences as they will be unable to find skilled people to ensure their business continues to flourish.

Investing in the right technology to ensure sourcing people becomes a smooth a process as possible is the solution, and companies which are prepared to make this investment will see many long-lasting benefits. An automated recruitment process enables organisations to easily keep in touch with potential employees, and ensure that from the moment that a person sends in a CV that they are dealt with efficiently and treated seriously.

E-recruitment technology also increases speed and efficiency at every stage, which means less time is spent on administration by recruiting staff, human error is reduced and opportunities are not missed. This all leads to considerable cost savings. Internal vacancies can also be advertised which avoids the costs of hiring someone externally, and helps demonstrate a companyís commitment to staff development.

Creating a stronger employer brand

Implementing a system to manage the whole recruitment process from publishing vacancies, to sorting through CVs, to scheduling interviews will help an organisation to court talent throughout the recruitment phase. It also enables a talent pool to be built which can be accessed when needed to ensure the right person fills the right role. And of course, companies must remember to keep promises made to new employees during the recruitment process. The induction process should therefore also be streamlined to ensure the person remains at the company, and doesnít walk out the door within the first few weeks.

From our experience, customers can reduce their recruitment costs by 50% within the first year of implementing an e-recruitment solution. These organisations are also able to speed up the recruitment process and accurately target talent, ensuring the right person is in the right job. This helps to deliver a stronger and more consistent employer brand, which is critical for attracting candidates and retaining them for the future ñ a key advantage as the battle for talent intensifies.